$100,000/Month Making Up Names

Phillip Davis tells the story of how he started a $100,000/month branding business from his basement 💰

I work with companies worldwide to create new names for their businesses, products, and services. One of the names I created was PODS – Portable On Demand Storage.

With a business like this, I’m always curious to hear how he found his first clients.

Unsurprisingly, it was the usual networking stuff that worked well for Phillip…

I kept costs to a minimum and focused on referrals, networking, word of mouth, and a limited amount of pay-per-click ads.

But he also did something unusual, contacting his direct competition and asking them for leads…

I found other naming agencies at the time that did larger projects for big corporations. I figured that they must turn down smaller projects all the time. Rather than spend money competing with them, I wrote to them and offered to pay a 10% commission for any smaller leads they sent my way.

I got one $20,000 naming project right out of the gate and paid my “competitor” a $2,000 referral fee. It was the proverbial win-win.

Are there big competitors in your industry that you could try this with? 🤔

Related: 53 ideas to get your first customers